Denison Announces Agreements with Skyharbour Resources, Increasing Denison's Strategic Foothold Surrounding Wheeler River

Core Insights - Denison Mines Corp has executed an agreement with Skyharbour Resources Ltd to acquire initial interests in claims comprising Skyharbour's Russell Lake Uranium Project, enhancing Denison's strategic position around its flagship Wheeler River Project [1][2] Transaction Overview - The Russell property will be divided into four joint ventures: Russell Lake (20% Denison, 80% Skyharbour), Getty East (30% Denison, 70% Skyharbour), Wheeler North (49% Denison, 51% Skyharbour), and Wheeler River Inliers (70% Denison, 30% Skyharbour) [1][3] - Denison will pay a total consideration of $18 million, including a $2 million upfront cash payment and $16 million in deferred payments [1][4] Strategic Implications - The acquisition strengthens Denison's regional presence and supports its long-term growth objectives by augmenting its exploration portfolio [2] - The transaction allows Denison to lead exploration efforts across the new joint ventures, leveraging collaboration with Skyharbour's technical teams [1][2] Earn-In Option Agreements - Denison has the option to increase its ownership interest in Wheeler North and Getty East to up to 70% through multi-phase earn-in options [7] - The Wheeler North Earn-In Option allows Denison to acquire additional interests by incurring exploration expenditures and making cash payments [8][15] - The Getty East Earn-In Option similarly requires Denison to incur specific exploration expenditures within set timeframes to increase its ownership [9][10] Operational Considerations - Denison will have priority access to Skyharbour's existing exploration camp for the Russell project, with associated usage fees [5] - The transaction is subject to customary approvals, including TSX Venture exchange approval [6]